Los Angeles CA, April 25 (Tangible Investments) – by James O’Dell – Gold and Silver prices edged lower in early trading on Tuesday as global tensions still supporting Gold. The yellow metal is down 0.82 percent to $1,265.50 an ounce after easing $5.70 on Monday to close at $1,276.00 an ounce.

Silver is down 1.34 percent to $17.69 an ounce after gaining $0.03 on Monday to close at $17.93 an ounce. The Gold/Silver ratio, the number of Silver ounces needed to buy an ounce of Gold, fell to 71.17. Platinum is down 0.94 percent to $950.00 an ounce. Palladium is down 0.25 percent to $793.00.

Dip In Gold Price Is Buying Opportunity

Gold dipped moderately lower in early trading on Tuesday but physical Gold investors are using this as a buying opportunity. There are still a number of factors supporting the market, says Commerzbank.

Monday’s price fall “was clearly viewed as an attractive buying opportunity,” said Commerzbank. The bank also pointed out that Gold holdings in the world’s largest Gold-backed ETF, rose by 1.5 tons on Monday.

“We’ve moved from having multiple numbers of positive drivers for Gold last week when yields were on the defensive and we had multiple geopolitical risks,” said Ole Hansen, of Saxo Bank.

Government Shutdown Looming

“But now with the French election (first round) behind us, there is a bit of a surge of risk-on coming back to the market. The main worry was a strong performance by Le Pen.” Hansen went on to say that with the risk of a government shutdown looming, Gold would trade cautiously this week.

While Gold has backed-off from the five-month highs reached earlier this month, an “outsized correction” isn’t likely, says TD Securities. “Two of the current key drivers for Gold, low U.S. real yields, a flatter yield curve and the Japanese yen, will continue to provide support.”

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